Auctus II LP has invested in the development, construction and operation of The Summit at Seasons, a premium multi-family apartment complex located in Winnipeg, Manitoba. The Summit at Seasons consists 416 residential apartment units consisting of a mixture of four and six storey buildings. The Summit at Seasons is a vibrant apartment community with modern amenities like a clubhouse, fitness centre, pool and resident- focused services.
It's objectives are to:
- Develop and construct and operate the project resulting in its fair value being substantially in excess of its cost, providing a strong development profit to investors;
- Provide unitholders with long-term, stable and predictable quarterly cash distributions;
- Grow funds from operations, sustainable distributions and unit value through the active management of its properties, accretive acquisitions and strong financial management; and
- Reinvest capital within the property portfolio in order to maximize earnings and cash flow potential.
The Auctus II LP property portfolio is located in Southwest Winnipeg next to Seasons, Central Canada's premiere shopping centre. Together with the Outlet Collection Winnipeg, the combined site represents over 100 acres and nearly one million square feet of mixed-use retail space. The premium product, exceptional service and desirable location attracts premium tenants and rents to maximize unit value.
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The fund is fully subscribed and no longer accepting subscriptions for investment, having achieved its fundraising capital requirements.
Deveraux is an employee-owned fund manager focused on private equity real estate.